Rakuten Securities Inc. Buys Shares of 6,992 Cloudflare, Inc. (NYSE:NET)

Rakuten Securities Inc. bought a new stake in Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 6,992 shares of the company’s stock, valued at approximately $582,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC increased its position in Cloudflare by 0.5% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after purchasing an additional 132 shares in the last quarter. Quent Capital LLC increased its position in Cloudflare by 8.1% during the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after purchasing an additional 140 shares in the last quarter. CWM LLC increased its position in Cloudflare by 3.4% during the 3rd quarter. CWM LLC now owns 4,624 shares of the company’s stock worth $291,000 after purchasing an additional 153 shares in the last quarter. RFG Advisory LLC increased its position in Cloudflare by 2.9% during the 3rd quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock worth $376,000 after purchasing an additional 166 shares in the last quarter. Finally, Xponance Inc. increased its position in Cloudflare by 0.6% during the 3rd quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after purchasing an additional 224 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on NET shares. Morgan Stanley increased their target price on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Sanford C. Bernstein started coverage on shares of Cloudflare in a research report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price objective for the company. DZ Bank downgraded shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a research report on Tuesday, February 13th. Susquehanna increased their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Needham & Company LLC increased their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $87.08.

Insider Activity

In related news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the sale, the insider now owns 216,114 shares of the company’s stock, valued at approximately $17,202,674.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Maria S. Eitel sold 6,875 shares of Cloudflare stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $98.51, for a total transaction of $677,256.25. Following the completion of the transaction, the director now directly owns 23,513 shares in the company, valued at approximately $2,316,265.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The disclosure for this sale can be found here. Insiders have sold 1,070,903 shares of company stock worth $103,653,456 in the last 90 days. Corporate insiders own 14.80% of the company’s stock.

Cloudflare Price Performance

Cloudflare stock traded up $0.70 on Wednesday, reaching $91.04. The company’s stock had a trading volume of 3,169,264 shares, compared to its average volume of 2,217,742. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The company has a market cap of $30.74 billion, a price-to-earnings ratio of -165.52 and a beta of 1.12. The business’s fifty day moving average price is $96.84 and its 200 day moving average price is $81.55. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The business had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Equities analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.